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RBS credit card review: Classic (Existing Customers Only)

THE RBS classic credit card is an everyday card for your everyday purchases. But with a low introductory rate, substantial discounts on shopping and travel and extra protection for your purchases it's a credit card that also prepares you for those not-so-everyday moments.

The introductory rate offers 4.9% on purchases for nine months, ideal if need to spread the cost of some unusually high spending.

Although a credit card with a 0% interest rate on purchases would be preferable for that task, the RBS Classic credit card will particularly suit you if you've had trouble getting credit from other providers, since your current bank is more likely to approve a credit card application.

After the introductory rate expires the RBS Classic reverts to a standard credit card with a typical APR on the RBS Classic credit card of 19.9%, with an interest-free period of up to 56 days.

The RBS Classic credit card also comes packed with extras including extra protection on purchases and discounts from a number of retailers.

As well as the statutory protection on purchases over £100 under section 75, RBS offer active fraud monitoring with a text alert service and an internet fraud guarantee.

The discounts with the RBS Classic credit card are: 20% off at buyagift.com, 10% off at HP UK and 10% off UK short breaks with Superbreak.

Finally, as a RBS Classic credit card holder you'll be able to take advantage of members services such as the RBS travel service - for discounts on flights, hotels and insurance - and the RBS wine club.

All in all, the Royal Bank of Scotland Classic credit card could help you to manage your money more effectively and get exclusive discounts too.

Interest Rates and Fees
		Notes..
Typical APR	19.9% APR (variable)	Royalties Account customers will receive a 1% discount in the APR for at least 12 months. The typical APR is the rate most people are offered.
Introductory Purchases	4.9% for 9 months	Payments will be applied towards promotional purchases first.
Balance Transfers	19.95% p.a.	-
Balance Transfer Fee	None	There is no balance transfer handling fee to pay.
Cash Withdrawal Rate	27.95% p.a. (variable)	You can withdraw up to £300 each day, within your credit limit.
Cash Withdrawal Fee	3% (£3 minimum)	-
Annual Fee	None	-
Foreign Transaction Fee	2.75%	This fee will be charged if you make a purchase or cash withdrawal in a foreign currency.

Rewards
		Notes..
Reward #1	Shopping Discounts	- 20% off at buyagift.com - 10% off at HP UK - 10% off UK short breaks with Superbreak.
Reward #2	Travel Discounts	Travel discounts when you use your RBS credit card at rbstravelservice.co.uk. Discounts available on advance bookings, last minute bargains and from flights to airport parking.
Reward #3	Wine Club Offers	The Royal Bank Wine Club has special offers when you pay with your RBS credit card. Special offers and occassional free gifts.

Cardholder Services & Extras
Online Account Management		You can manage your account online if you have a Royal Bank of Scotland current account and use digital banking.
Internet Fraud Guarantee		If your card has been used on the internet without your knowledge or consent, RBS guarantee not to hold you liable for the fraudulent transaction if you've signed up to RBS Secure (a free service in partnership with MasterCard SecureCode).
Fraud Monitoring		Active Fraud Monitoring with Free Mobile Text Alerts Choose SMS text alerts and receive a text message instead of a phone call if RBS spot anything suspicious on your account.
Identity Protection
MasterCard SecureCode		An extra layer of security when shopping online. Register and set up a password-protected identity-check when you shop online with participating online retailers.
Purchase Protection Insurance
Purchase Delivery Insurance
Comprehensive Travel Insurance
Travel Accident Insurance
Travel Inconvenience Insurance
Assistance Abroad		Travel Helpline Get advice and help with medical emergencies whilst abroad.
Emergency Card Replacement
Other Extras	- Free additional cardholder
Optional Extras	These are extras that you can choose, but you will have to pay for them. - Card Protection - Identity Protection Cover - Payment Protection.

Payments & Payment Details
		Notes..
Credit Limit	£300 minimum	Maximum credit limit is subject to status.
Interest Free Period	Up to 56 days	For purchases if you pay your balance in full and on time, and have paid the previous month's balance in full and on time. There is no interest free period on balance transfers, money transfers or cash advances.
Minimum Monthly Payment	2.25% (£5 minimum)	The minimum monthly payment will be the greater of: - 2.25% of the outstanding balance (rounded down to the nearest pound), OR - The amount you owe over your credit limit, less any overdue amounts from previous statements, OR - £5.
Allocation of Payments	Interest on Special Offers » Other Interest, Fees & Charges » Special Offers » Purchases & Balance Transfers » Cash Advances & Money Transfers	-
Default Charges	£12	- Returned Payment: £10 - Returned Promotional Cheque: £12 - Late Payment: £12 - Exceeding Credit Limit: £12
Copy of Statement Fee	£3	This is the fee you will be charged for duplicate statements.

Card Details
		Notes..
Online Application	Yes	Only available to existing RBS current account customers. Remember: always ensure you meet the application requirements before applying, as getting rejected can affect your credit score.
Card Type	Classic	-
Payment Company	MasterCard	The company who provides the payment technology and infrastructure to allow you to use this credit card. Retailers and ATM machines displaying the 'MasterCard' logo will accept this credit card.
Card Issuer	Royal Bank of Scotland	The bank who issues this credit card. The Royal Bank of Scotland plc 36 St Andrew Square Edinburgh EH2 2YB
Card Advertiser	Royal Bank of Scotland	The company who advertises and promotes this credit card.

Review Continued...

The Classic credit card from RBS could help you to manage your money and make big savings where it counts, read on to see how.

Purchases at a 4.9% rate

The headline rate on the RBS Classic credit card is the comparatively low 4.9% interest rate on purchases for the first nine months.

Paying any interest, even a low interest rate, on your purchases isn't ideal and if you're eligible for them it's worth comparing 0% purchase credit cards.

However, if you don't plan on spending a lot or you're having trouble obtaining credit elsewhere a credit card application from your own bank is more likely to be successful, since they have a reliable history of your previous financial commitments on file.

At 4.9% interest it'll be more affordable to spread out borrowing from the Royal Bank of Scotland Classic credit card as long as you avoid higher-interest transactions.

For example, cash withdrawals (including cashback at the till) and gambling transactions don't count as purchases and not only will you pay a higher rate of interest on them you won't be able to start repaying the amounts until you've paid off the 4.9% rate. Keep in mind shopping vouchers are also sometimes considered as a cash transaction, as is foreign currency purchases.

Finally, it's vital to pay every monthly minimum repayment on your RBS Classic credit card to keep that low introductory rate.

The Classic credit card from RBS has a minimum repayment of 2.25% of your outstanding balance (rounded down to the nearest pound) or £5, whichever is the greater but you should aim to pay back more than that to avoid as much interest as you can.

RBS cardholder services

To apply for the RBS Classic credit card, you'll need to already have a Royal Bank of Scotland current account.

However, as an RBS Classic credit card holder you'll be get access to even more RBS services including the RBS Wine Club, Travel Services and shopping discounts.

Alone, none of these services are enough incentive to sign up for the RBS Classic but together they can offer significant discounts on everyday spending.

The RBS Travel Service offers discounts on advance holiday bookings, information on visas and other travel necessities and basic medical support on your travels while the wine club offers discounts on your favourite tipple and even the occasional freebie.

Finally, there are shopping discounts as you spend. For example, 10% off all HP computer products from printers to PCs and 20% off items from buyagift.com from flowers to Ferrari classes.

More Security

The RBS Classic credit card offers a number of security services to keep your cash safe above and beyond the protection under law as part of section 75.

As an RBS Classic credit cardholder you can sign up for MasterCard Securecode for extra protection on your online purchases and, in return, RBS will guarantee your account against online fraud.

There's also a free text alert service which will inform you of any unusual activity on your RBS Classic credit card account.

Under law credit card spending over £100 is also protected under section 75. That law says that your credit card provider and the retailer are equally responsible for any purchases - so if an item isn't delivered, for example, you can reclaim the amount from RBS.

No cash, though

However, despite the RBS international services its worth trying to avoid using the RBS Classic credit card itself abroad. There's a fee of 2.75% on any purchase or cash withdrawal made in a foreign currency.

Cash withdrawals will be charged that rate on top of a 3% fee (of a minimum of £3) and a 27.95% interest rate charged from the moment you make the withdrawal. Therefore, withdrawing cash with the RBS Classic credit card is not a good idea.

All in all...

All in all, the Royal Bank of Scotland Classic credit card is a simple way to spend, with a reduced rate on purchases and extra security.

Apply Online for RBS Classic (Existing Customers Only) credit card »